Global Smart Healthcare Products Market: by Product Type (Telemedicine, Electronic Health Records, mHealth, Smart Pills and Syringes, and Smart RFID Cabinets), Application (Storage and Inventory Management, Monitoring, Treatment, and Others), End-User, and Region - Industry Analysis and Forecast to 2025
Smart healthcare products can be defined by the incorporation of advanced technology in the traditional healthcare sector. Smart healthcare products help in providing quality treatment and improve user experiences. The main goal is of this product being educated patients about their medical status and keep them aware of their health conditions. The market holds a profitable growth for the key players in the forecast period.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global smart healthcare products market. The historic years considered for the study are 2016-2018, the base year is 2019, the estimated year is 2020, and the forecast period is 2021-2025.
The global smart healthcare products market is expected to grow from USD 41.13 billion in 2020 to USD 85.33 billion by 2025 at a CAGR of 13.2%.
Global Smart Healthcare Products Market: Market Dynamics
Smart healthcare products use advanced technologies that enable remote-physical monitoring of the individual’s health condition for early diagnosis and ongoing disease treatment. Prevalence of chronic diseases like congestive heart failure and diabetes are fuelling market growth. It enhances clinical management and facilitates timely response to emergencies thus boosting the demand globally. The significant presence of the internet of things coupled with increased R&D investment is driving the market growth.
However, on the flip, factors like lack of skilled professionals, higher cost of the smart product, and high capital investment hamper the worldwide market.
Global Smart Healthcare Products Market: Segmental Analysis
Based on product type the market is segmented as telemedicine, electronic health records, mHealth, smart pills and syringes, and smart RFID cabinets. The mHealth segment dominated the market in the past. The dominance of high internet speed and the introduction of smart devices accounted for the largest market share. RFID is the fastest-growing segment, it effectively monitors the workflow of the hospitals to help patients move in & out quickly and more efficiently. In the wake of COVID-19, Telemedicine accounted to be the second-fastest-growing segment and is anticipated to grow during the forecast period.
Global Smart Healthcare Products Market: Regional Analysis
Geographically, the smart healthcare products market is classified into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America dominated the market and accounted for a major share of the global smart healthcare products market in 2019. It was attributed to the presence of major players and the incidence of chronic diseases such as diabetes and cancer.
Global Smart Healthcare Products Market: Competition Scenario
Key players of the smart healthcare products market Allscripts, Cerner Corporation, Cisco Systems, GENERAL ELECTRIC COMPANY, IBM Corporation, Logi-Tag Systems, Olympus Corporation, SAMSUNG, Siemens Healthcare Private Limited, BD, AirStrip Technologies, Terumo Corporation, Resideo Technologies, Inc., eClinicalWorks, STANLEY Healthcare, Medtronic.
Critical Questions Answered in the Report
What are the key trends in the global Smart Healthcare Products market?
How the market (and its various sub segments) has grown in the last four years and what would be the growth rate in the next five years?
What are the key strategies adopted by the major vendors to lead in the global Smart Healthcare Products market?
What is the market share of the top vendors?
The study extensively uses both secondary and primary research methodologies. More than 100 industry experts from different phases of the value chain (supply side, demand side, resellers/distributors, and independent consultants) were interviewed to gain key insights about the market and validate the research findings. Secondary sources referred for the research study include company websites, annual reports, paid database tools, investor presentations, webinars, blogs, news/journals, whitepapers, survey papers, associations, and government websites. All the collected data and insights were then processed using our proprietary data mining software that executes various algorithms to make projections for the forecast period.
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Architecture
2.3 Scope of the Study
2.4 Related Stakeholders
3 Research Methodology
3.1 Introduction
3.2 Primary Research
3.2.1 Key Insights
3.2.2 Breakdown of Primary Interviews
3.3 Secondary Research
3.3.1 Important Sources
3.4 Market Size Estimation Approaches
3.4.1 Top-Down Approach
3.4.2 Bottom-Up Approach
3.4.3 Data Triangulation
3.5 List of Assumptions
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Increased R&D investment
4.3 Restraints
4.3.1 Higher implementation costs
4.3.2 Lack of skilled professionals
4.4 Porter's Five Forces Model Analysis
4.5 Value Chain Analysis
4.6 Regulatory Landscape
5 Global Smart Healthcare Products Market, By Product Type
5.1 Introduction
5.2 Telemedicine
5.3 Electronic Health Records
5.4 mHealth
5.5 Smart Pills and Syringes
5.6 Smart RFID Cabinets
6 Global Smart Healthcare Products Market, By Application
6.1 Introduction
6.2 Health Data Storage
6.3 Monitoring and Treatment
6.4 Inventory Management
7 Global Smart Healthcare Products Market, By End User
7.1 Introduction
7.2 Hospitals
7.3 Home Care Settings
7.4 Others
8 Global Smart Healthcare Products Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia-Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 South Korea
8.4.5 Rest of Asia-Pacific
8.5 Middle East and Africa
8.6 South America
9 Competitive Landscape
9.1 Introduction
9.2 Vendor Evaluation Criteria
9.3 Market Share Analysis, 2019 (%)
9.4 Recent Developments, 2016-2019
9.4.1 New Product Type Launches
9.4.2 Partnerships
9.4.3 Mergers or Acquisitions
9.4.4 Business Expansions
10 Company Profiles
(This section covers the Business Overview, Financial Overview, Product & Service Offerings, Recent Developments, SWOT Analysis, and Key Strategies of the top market vendors. The given sequence does not represent their rankings in the market.)
10.1 Allscripts Healthcare Solutions
10.2 Cerner Corporation
10.3 Cisco Systems
10.4 GENERAL ELECTRIC COMPANY
10.5 IBM Corporation
10.6 Logi-Tag Systems
10.7 Olympus Corporation
10.8 SAMSUNG
10.9 Siemens Healthcare Private Limited
10.10 BD
10.11 AirStrip Technologies
10.12 Terumo Corporation
10.13 Resideo Technologies, Inc
10.14 eClinicalWorks
10.15 STANLEY Healthcare
10.16 Medtronic
11 Appendix
11.1 Discussion Guide
11.2 Customization Options
11.3 Related Reports
List of Tables
Table 1 Global Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 2 Global Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 3 Global Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 4 Global Smart Healthcare Products Market, By Region, 2016-2025 (USD Million)
Table 5 North America Smart Healthcare Products Market, By Country, 2016-2025 (USD Million)
Table 6 North America Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 7 North America Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 8 North America Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 9 US Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 10 US Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 11 US Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 12 Canada Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 13 Canada Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 14 Canada Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 15 Mexico Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 16 Mexico Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 17 Mexico Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 18 Europe Smart Healthcare Products Market, By Country, 2016-2025 (USD Million)
Table 19 Europe Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 20 Europe Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 21 Europe Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 22 Germany Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 23 Germany Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 24 Germany Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 25 UK Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 26 UK Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 27 UK Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 28 France Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 29 France Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 30 France Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 31 Italy Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 32 Italy Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 33 Italy Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 34 Spain Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 35 Spain Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 36 Spain Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 37 Rest of Europe Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 38 Rest of Europe Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 39 Rest of Europe Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 40 Asia-Pacific Smart Healthcare Products Market, By Country, 2016-2025 (USD Million)
Table 41 Asia-Pacific Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 42 Asia-Pacific Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 43 Asia-Pacific Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 44 China Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 45 China Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 46 China Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 47 India Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 48 India Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 49 India Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 50 Japan Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 51 Japan Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 52 Japan Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 53 South Korea Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 54 South Korea Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 55 South Korea Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 56 Rest of Asia-Pacific Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 57 Rest of Asia-Pacific Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 58 Rest of Asia-Pacific Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 59 Middle East and Africa Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 60 Middle East and Africa Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 61 Middle East and Africa Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
Table 62 South America Smart Healthcare Products Market, By Product Type, 2016-2025 (USD Million)
Table 63 South America Smart Healthcare Products Market, By Application, 2016-2025 (USD Million)
Table 64 South America Smart Healthcare Products Market, By End User, 2016-2025 (USD Million)
List of Figures
Figure 1 Global Smart Healthcare Products Market: Market Segmentation
Figure 2 Global Smart Healthcare Products Market: Research Methodology
Figure 3 Breakdown of Primary Interviews
Figure 4 Top-Down Approach
Figure 5 Bottom-Up Approach
Figure 6 Data Triangulation
Figure 7 Global Smart Healthcare Products Market: Drivers, Restraints, Opportunities, and Challenges
Figure 8 Global Smart Healthcare Products Market: Porter's Five Forces Model Analysis
Figure 9 Global Smart Healthcare Products Market: Value Chain Analysis
Figure 10 Global Smart Healthcare Products Market Share Analysis, By Product Type, 2020 and 2025
Figure 11 Global Smart Healthcare Products Market Share Analysis, By Application, 2020 and 2025
Figure 12 Global Smart Healthcare Products Market Share Analysis, By End User, 2020 and 2025
Figure 13 Global Smart Healthcare Products Market Share Analysis, By Region, 2020 and 2025
Figure 14 North America Smart Healthcare Products Market Share Analysis, By Country, 2020 and 2025
Figure 15 North America Smart Healthcare Products Market Share Analysis, By Product Type, 2020 and 2025
Figure 16 North America Smart Healthcare Products Market Share Analysis, By Application, 2020 and 2025
Figure 17 North America Smart Healthcare Products Market Share Analysis, By End User, 2020 and 2025
Figure 18 Europe Smart Healthcare Products Market Share Analysis, By Country, 2020 and 2025
Figure 19 Europe Smart Healthcare Products Market Share Analysis, By Product Type, 2020 and 2025
Figure 20 Europe Smart Healthcare Products Market Share Analysis, By Application, 2020 and 2025
Figure 21 Europe Smart Healthcare Products Market Share Analysis, By End User, 2020 and 2025
Figure 22 Asia-Pacific Smart Healthcare Products Market Share Analysis, By Country, 2020 and 2025
Figure 23 Asia-Pacific Smart Healthcare Products Market Share Analysis, By Product Type, 2020 and 2025
Figure 24 Asia-Pacific Smart Healthcare Products Market Share Analysis, By Application, 2020 and 2025
Figure 25 Asia-Pacific Smart Healthcare Products Market Share Analysis, By End User, 2020 and 2025
Figure 26 Middle East and Africa Smart Healthcare Products Market Share Analysis, By Product Type, 2020 and 2025
Figure 27 Middle East and Africa Smart Healthcare Products Market Share Analysis, By Application, 2020 and 2025
Figure 28 Middle East and Africa Smart Healthcare Products Market Share Analysis, By End User, 2020 and 2025
Figure 29 South America Smart Healthcare Products Market Share Analysis, By Product Type, 2020 and 2025
Figure 30 South America Smart Healthcare Products Market Share Analysis, By Application, 2020 and 2025
Figure 31 South America Smart Healthcare Products Market Share Analysis, By End User, 2020 and 2025
Figure 32 Global Smart Healthcare Products Market: Competitive Benchmarking
Figure 33 Global Smart Healthcare Products Market: Vendor Share Analysis, 2020 (%)